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2) There are more options for how to manage your pension

Since 6 April 2015, if you’re aged 55 and above, you can access your savings from your defined contributions pension scheme to invest or spend as you want under new pension reforms.

For example, you can take money direct from your pension pot without having to buy an annuity or put the money into drawdown, and 25% of this sum will be tax free - or you can use some or all of your funds to buy an annuity that will be payable for at least the rest of your life.

3) Married couples could save £212 this year by applying for a marriage allowance

4) From April 2016, a new Personal Savings Allowance will save 95% of people money

From next month, a tax-free allowance of £1,000 (or £500 for higher rate payers) will be introduced for the interest that you earn on your savings.

If you are a basic rate taxpayer (a total income of up to £43,000 in 2016-17), you will be eligible for a £1,000 tax-free savings allowance.

If you are a higher rate payer (a total income of between £43,001 and £150,000), you will be eligible for a £500 tax-free savings allowance.

5) The tax-free Personal Allowance is changing

The tax-free Personal Allowance - the amount people earn before they have to start paying Income tax - will increase to £11,000 from next month.

This means that the typical taxpayer will be £80 better off in 2016-17.

Independent financial advice

Aberdein Considine has one of Scotland's largest network of independent financial advisers. We see clients at 17 locations throughout Scotland, including the cities of Aberdeen, Edinburgh, Glasgow, Perth and Stirling.

If you would like to speak to one of our advisers, call 0333 0044 333 or click here.